B. Riley Trims Golden Entertainment (NASDAQ:GDEN) Target Price to $40.00

Golden Entertainment (NASDAQ:GDEN) had its target price reduced by investment analysts at B. Riley from $44.00 to $40.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s target price suggests a potential upside of 27.51% from the company’s previous close.

GDEN has been the topic of a number of other research reports. JMP Securities cut their target price on shares of Golden Entertainment from $39.00 to $36.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Macquarie cut their price objective on shares of Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Truist Financial lowered their target price on Golden Entertainment from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, StockNews.com downgraded Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Golden Entertainment Stock Down 4.3 %

Shares of NASDAQ GDEN opened at $31.37 on Monday. Golden Entertainment has a 52-week low of $27.42 and a 52-week high of $42.14. The firm has a market capitalization of $908.13 million, a price-to-earnings ratio of 3.38 and a beta of 2.23. The stock has a 50 day moving average price of $31.05 and a 200 day moving average price of $31.68. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.73 and a current ratio of 0.77.

Golden Entertainment (NASDAQ:GDEN) last issued its earnings results on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.06). The firm had revenue of $167.33 million during the quarter, compared to analysts’ expectations of $176.34 million. Golden Entertainment had a negative return on equity of 0.33% and a net margin of 33.07%. Sell-side analysts expect that Golden Entertainment will post 0.25 earnings per share for the current year.

Insider Transactions at Golden Entertainment

In other news, Director Mark A. Lipparelli sold 773 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $33.32, for a total value of $25,756.36. Following the completion of the sale, the director now owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Golden Entertainment

Institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in shares of Golden Entertainment during the second quarter valued at about $34,000. nVerses Capital LLC acquired a new position in Golden Entertainment during the 2nd quarter valued at approximately $37,000. Quarry LP acquired a new position in Golden Entertainment during the 2nd quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Golden Entertainment in the second quarter worth $54,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Golden Entertainment during the second quarter worth $89,000. Institutional investors and hedge funds own 70.73% of the company’s stock.

Golden Entertainment Company Profile

Golden Entertainment, Inc owns and operates a diversified entertainment platform in the United States. The company operates through four segments; Nevada Casino Resorts, Nevada Locals Casinos, Nevada Taverns, and Distributed Gaming. It also operates casino, casino resorts, and taverns; and slot machines in third party non-casino locations.